We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Freeport-McMoRan Inc. (FCX - Free Report) , formerly Freeport-McMoRan Copper & Gold Inc., is a mining giant that is primarily engaged in mineral exploration and development, mining and milling of copper, gold, molybdenum and silver, as well as the smelting and refining of copper concentrates.
Freeport is taking actions to manage costs and capital spending amid a still challenging operating environment. The company also remains focused on de-leveraging its balance sheet, partly through assets sale.
Let’s have a quick look at this mining behemoth’s first-quarter release.
Estimate Trend & Surprise History
Estimate for Freeport for the first quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in 1 of the trailing 4 quarters while missing in the other 3 with an average negative surprise of 33.36%.
Earnings
Freeport reported adjusted earnings of 15 cents per share for the quarter, missing the Zacks Consensus Estimate of 17 cents.
Freeport posted revenues of $3,341 million, missing the Zacks Consensus Estimate of $3,505 million.
Key Stats/Developments to Note
At the end of first quarter, Freeport’s total debt was $15.4 billion. For 2017, the company remains focused on reducing debt and it had no borrowings. Freeport has credit availability worth $3.5 billion at the end of the reported quarter.
Zacks Rank
Currently, Freeport has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Freeport’s shares were up 3% in the pre-market trading following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Freeport’s earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Freeport (FCX) Misses Q1 Earnings & Sales Estimates
Freeport-McMoRan Inc. (FCX - Free Report) , formerly Freeport-McMoRan Copper & Gold Inc., is a mining giant that is primarily engaged in mineral exploration and development, mining and milling of copper, gold, molybdenum and silver, as well as the smelting and refining of copper concentrates.
Freeport is taking actions to manage costs and capital spending amid a still challenging operating environment. The company also remains focused on de-leveraging its balance sheet, partly through assets sale.
Let’s have a quick look at this mining behemoth’s first-quarter release.
Estimate Trend & Surprise History
Estimate for Freeport for the first quarter has been stable over the past week. The company has beaten the Zacks Consensus Estimate in 1 of the trailing 4 quarters while missing in the other 3 with an average negative surprise of 33.36%.
Earnings
Freeport reported adjusted earnings of 15 cents per share for the quarter, missing the Zacks Consensus Estimate of 17 cents.
Freeport-McMoran, Inc. Price and EPS Surprise
Freeport-McMoran, Inc. Price and EPS Surprise | Freeport-McMoran, Inc. Quote
Revenues
Freeport posted revenues of $3,341 million, missing the Zacks Consensus Estimate of $3,505 million.
Key Stats/Developments to Note
At the end of first quarter, Freeport’s total debt was $15.4 billion. For 2017, the company remains focused on reducing debt and it had no borrowings. Freeport has credit availability worth $3.5 billion at the end of the reported quarter.
Zacks Rank
Currently, Freeport has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Freeport’s shares were up 3% in the pre-market trading following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Freeport’s earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>